Sunday, June 23

Tag: Gautam Adani

Adani Green Energy to acquire SoftBank Energy India 5 GW Plant for USD 3.5 billion
ACQUISITION

Adani Green Energy to acquire SoftBank Energy India 5 GW Plant for USD 3.5 billion

AHMEDABAD, India, May 19, 2021-- Adani Green Energy Limited (AGEL) led by Gautam Adani has acquired 100% stakes in SB Energy India from Soft bank group (80%) and Bharti Group (20%). SB Energy India has a total renewable portfolio of 4,954 MW spread across four states in India. The transaction marks the largest acquisition in the renewable energy sector in India. The total deal valuation is approx USD 3.5 billion. The target portfolio consists large scale utility assets with 84% solar capacity (4,180 MW), 9% wind-solar hybrid capacity (450 MW) and 7% wind capacity (324 MW). The portfolio comprises of 1,400 MW operational solar power capacity and a further 3,554 MW is under construction. All projects have 25 year PPAs with sovereign rated counterparties such as Solar Energy Corporation o...
No better time to bet on India than now, says Gautam Adani
INDIA

No better time to bet on India than now, says Gautam Adani

NEW DELHI, 8th June 2020: The recent slump in economic growth notwithstanding, India will be one of the world's top consumption centers and a manufacturing and services hub for the next several decades, billionaire Gautam Adani has said, stressing there is no better time to bet on India than now. India's economic growth slipped to 4.2% in 2019-20 fiscal (April 2019 to March 2020) its slowest pace in more than a decade. International rating agencies as well as the Reserve Bank of India (RBI) have forecast a contraction in GDP in the financial year that began in April 2020 on account of the coronavirus-induced slowdown. "What we must realize is that there are no absolute right or wrong ideas. What is required during an unprecedented, hard to model, a crisis like COVID-19, is a Governm...